One of the important operational and in some cases, also strategic business decisions, is in respect of the investment of funds. Although there are a number of assets to invest in, two particular popular investment asset classes are land and/or property. Land however, is becoming a very scarce resource. It can be argued that many companies investing in the property sectors' main income is generated from the sale of land. A new way of gaining a sustainable income stream is followed. This is done by investing in different kinds of property development projects. One of the problems that companies face is to determine whether a property development project is a good investment, meaning that it will generate sustainable and acceptable profits in the long term. Companies evaluate prospective investment opportunities by assessing whether the expected return, adjusted for project risk, exceeds the company?s required return. Different impact parameters exist and were identified in the study. Valuation methods used in determining the overall feasibility were discussed and evaluated to see the impact on the property development project. / Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2011.

Prior to the last reform of the transfer pricing regime, only the application of specific valuation methods was allowed, which generated several practical and constitutional problematic issues. These were partially solved with the recent inclusion of a provision that allows the application of “other methods”. This paper analyzes the issues of the previous situation, as well as the solutions presented by the reform and its corresponding limits. Finally, the authors propose several precisions that, in their opinion, should be included in the regulation of the “other methods”. / Previamente a la última reforma del régimen peruano de precios de transferencia, solo se permitía la aplicación de métodos específicos de valoración, lo que generó una serie de problemas de índole práctica y constitucional. Estos se resolvieron parcialmente con la reciente inclusión de una disposición que permite la aplicación de “otros métodos”. El presente trabajo analiza la problemática de la situación previa, así como las soluciones que presenta la reforma y sus límites. Por último, se propone una serie de precisiones que, a juicio de los autores, deberían incluirse en la reglamentación de los “otros métodos”.

The main object of the master's thesis is to provide a description of the firm valuation methods employed in this field at the moment and also to apply some of these techniques to determine a value of the chosen company. The main part of the thesis is mostly concentrated on the characteristics of the discounted cash flow methods that are viewed as most commonly used. However, a brief introduction of accounting-based methods as well as relative valuation methods is included. For the purposes of valuation of the Feroplast spol. s r.o. company, the earnings-valuation methods were applied, namely the discounted cash flow methods based on FCFF and EVA and also the method of capitalised net revenues. The results these methods provide can vary and as such shall be compared and analysed. Before the valuation itself, however, it is necessary to perform financial and strategic analysis that represent substantial part of every valuation.

This thesis defines the methods of determining the normal price of a house. Among the methods that lead to the detection of the normal price, the method includes finding material values, comparative method, the method of determination of the yield value method of averaging, which is connected to Naegeliho weighted average method, Bradáčova modification weighted average method and the rest. Further analyzes of the established method in practice and as a result these methods will be compared with each other.

Diploma thesis deals with methods of valuation of properties in the Slovak Republic focusing on the family house. In thesis is also described a detailed questionnaire, which is dedicated to the real estate slovak market research . Diploma thesis describes analysis of the the most common valuation methods used in Slovakia. In thesis is indicated valuation of family house situated in Žilina region using 3 methods.

Master’s thesis deal with a determine the value of firm Hanácké železárny a pérovny, a.s. Theoretical part defines the analysis of external and internal potential and financial situation of the company. According to the analysis of generators value was written a financial plan. Closing part contains the valuatin of the firm by choosing yield valution methods.

This thesis examines the influence of insulation of perimeter structures on the price of residential units in model house. Model example is prefabricated house in the town of Vyškov. The aim is to determine whether is the investment for owners of individual apartments beneficial and, if so, what is its return time. Two views on this issue are saving energy for heating and appreciation of prices of apartments. The secondary objective is considering other options to save energy.

Detta arbete har ägnat särskild uppmärksamhet åt kommersiella fastigheter, fastighetsvärderingar och olika metoder för fastighetsvärdering. Uppsatsen börjar med att understryka vikten av korrekta fastighetsvärderingar och presenterar den svenska marknaden för kommersiella fastigheter som en betydande och dynamisk sektor. Syftet med uppsatsen är att få en djupare förståelse för fastighetsvärdering, utforska och analysera olika värderingsmetoder, identifiera de metoder som tillämpas i praktiken och undersöka om olika värderingsmetoder används för olika typer av kommersiella fastigheter. Undersökningen är geografiskt begränsad till Sverige och inriktad på de tre vanligaste värderingsmetoderna för kommersiella fastigheter. Arbetet är baserat på både kvalitativa och kvantitativa forskningsmetoder och inkluderar litteraturstudier, dokumentanalys, personliga intervjuer och samtal med professionella fastighetsanalytiker och fastighetsvärderare från några av Sveriges största fastighets- och värderingsbolag. Den teoretiska grunden för arbetet är strukturerad i fyra distinkta avsnitt: Olika typer av kommersiella fastigheter och deras karakteristiska drag, värdebegrepp inom fastighetsvärdering, marknads- och fastighetsanalys samt ett omfattande avsnitt om de olika värderingsmetoderna. Efter att ha gått igenom teorin presenteras resultaten från den empiriska data, vilka ger en inblick i vilka värderingsmetoder som faktiskt används i praktiken. Slutligen genomförs en analys och diskussion där teori och praktik jämförs för att identifiera likheter och skillnader. Resultatet visar tydligt att kassaflödesmetoden, en avkastningskalkylbaserad metod, är dominerande vid nästan all värdering av olika typer av kommersiella fastigheter i Sverige. / The main focus of this study is on commercial property, property valuations, and different property valuation methods. The thesis begins by emphasising the importance of accurate property valuations and introduces the Swedish commercial property market as an important and dynamic sector. The purpose of the thesis is to gain a deeper understanding of property valuation, to research and analyse different valuation methods, to identify the methods used in practice, and to investigate whether different methods are used for different types of commercial property. The study is geographically limited to Sweden and focuses on the three most common valuation methods for commercial property. The work is based on both qualitative and quantitative research methods and includes literature reviews, document analysis, personal interviews, and discussions with professional property analysts and valuers from some of Sweden's largest property and valuation companies. The theoretical basis of the work is divided into five distinct sections: Different types of commercial property and their characteristics features, Value concepts in property valuation, Market and property analysis, and a comprehensive section on the different valuation methods. After going through the theory, the results of the empirical data are presented, giving an insight into the valuation methods actually used in practice. Finally, there is an analysis and discussion are carried out where theory and practice are compared to identify similarities and differences. The result clearly shows that the discounted cash flow method, a return-based method, is dominant in the valuation of various types of commercial property.

in English language International investment arbitrations are an upcoming and dynamic factor within the current global economy, and damages embody one of their main characteristics, the monetary aspect. International investment arbitrations through International Investment Agreements protect both parties involved, a state and an investor on another state, that is a party to such agreement. The need to award damages to harmed parties to a dispute is imminent, even though the value and valuation of damages are not articulated in Bilateral Investment Treaties. Therefore, it is vital to set standards and principles that tribunals could adhere to when awarding damages. On the other hand, it is important to allow discretion, since the valuation of damages depends on the particular circumstances of each case. Acknowledged rules are fundamental to prevent discrepancies and discriminations, particularly when awards in international investment arbitrations can reach millions or even billions of U.S.$. The aim of damages is to provide full reparation standard when harm has been done to a party. In order to provide compensation to a harmed party, the tribunal first needs to assess the value of the affected investment and from that calculate the damages using a valuation method. The thesis will examine the...

Fastighetsvärderingar utförs av mäklare eller värderare inför försäljning, belåning, arvskiften, skilsmässor, etc. Genom olika metoder beroende på vilket värderingsobjekt det handlar om kan ett marknadsvärde uppskattas. Vid värderingar av småhus är ortsprismetoden genomgående den mest användbara metoden. Läget anses vara den absolut viktigaste värdefaktorn att ta hänsyn till när en värdering utförs, men även skicket, standard, tillgång till service och kommunikationer samt om objektet befinner sig i närhet av vatten. De värdehöjande faktorer, värderingsmetoder och regler kring detta kan skilja och skiljer sig även åt mellan länderna. Denna studie behandlar hur värderingsprocessen går till i Sverige respektive Spanien. Valet av länder motiveras med att det historiskt sett varit populärt för svenskar att investera i spanska fastigheter, främst i form av semesterhus. Då kunskapen är begränsad om hur ett marknadsvärde uppstår i Spanien samt hur köp och försäljningsprocessen går till är denna studie viktig för de som vill köpa en fastighet. Utan besittning av kunskaper om fastighetsmarknaden kan drömmen om det perfekta semesterboendet visas bli en dålig affär. För att skapa förståelse om hur ett värde uppkommer och vilka värdefaktorer som medför påverkan på fastigheten kan denna studie tillföra lyckade fastighetsköp, både i Sverige och i Spanien. För att bidra med relevant information och fakta som stämmer med verkligheten har intervjuer med värderare och mäklare som är aktiva i Sverige och i Spanien utförts. Detta resulterade i svar som var både oväntade och förväntade. I vissa aspekter var värderingsprocessen väldigt lik mellan länderna, medan det också fanns anmärkningsvärda skillnader som kunde diskuteras. Den största skillnad som identifierats i studien är hur mäklare erhåller sin licens i de båda länderna. I Sverige krävs utbildning för att kunna erhålla en mäklarlicens medan licensen i Spanien erbjuds till en försumlig summa. Andra märkbara skillnader är hur köpprocessen skiljer sig mellan länderna samt vilka värdefaktorer som efterfrågas av svenskar som köper bostad i Spanien. / Property valuation is executed by real estate brokers or property valuaters before selling, mortgage, inheritance, divorce, etc. Different methods can be used when determing a market value depending on what kind of object it is. When valuating houses, the most common method in Sweden is called “ortsprismetoden”, which compares similar objects to the object that’s being valuated. The most important valuation factor is the location, and has to be considered when deciding the properties value. Other important factors are the properties condition, standard, orientation and if it’s close to water. These factors that enhance the value, the metods that conclude the value and the laws attached to properties could be different in Sweden and in Spain. This study manage how the valuation process is executed in Sweden and in Spain. The countries were chosen based on that it historically have been very popular for Swedes to invest in properties, mainly vacation homes, in Spain. The knowledge about how a market value developes, how the selling/buying process works in Spain is rather limited, therefore this study is important for people who wants to invest in a Spanish property. Without the understandig of the property market, the dream of a perfect vacation home could result in a bad purchase. This study could contribute to a successful purchase by contributing knowledge about the property valuating process, how a market value is determend and what factors increse the value. nterviews were executed with real estate brokers and property valuaters in both Sweden and Spain to provide valuable answers to the questions asked in this study. This resulted in both expected and unexpected answers. In some aspects the valuation process were very similar between the countries, but in other aspects there were some major differences that could be discussed. The biggest difference were if the real estate brokers needed a licens to value property or not. In Sweden the broker needs education to get a licens, while in Spain the licens could be bought. Other differences were the selling/buying aspects and what the most important valuation factors were.